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Akeso Biopharma Reports 53% Revenue Decline in 2024 Despite Growth in Product Sales
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China-based Akeso Biopharma (HKG: 9926) released its 2024 financial report, recording RMB 2.124 billion (USD 293 million) in revenues, a 53.08% year-on-year (YOY) decrease. Despite the overall revenue decline, product sales grew significantly to RMB 2 billion (USD 276 million), up 24.88% YOY. Licensing income was reported at RMB 121.6…
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Summit Therapeutics and Pfizer Collaborate on Ivonescimab-ADC Combo for Solid Tumors
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Summit Therapeutics Inc. (NASDAQ: SMMT), the U.S. partner of China-based Akeso Inc. (HKG: 9926) for ivonescimab, announced a clinical collaboration with Pfizer (NYSE: PFE) to evaluate the combination of ivonescimab, Akeso’s PD-1/VEGF bispecific antibody (BsAb), with Pfizer’s antibody drug conjugates (ADCs) in multiple solid tumors. Collaboration DetailsUnder the agreement, Summit…
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Akeso Biopharma’s PD-1/VEGF Bispecific Antibody Study Completes Enrollment
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On October 4, 2024, Summit Therapeutics (referred to as “Summit”), a partner of Akeso Biopharma (HKG: 9926), announced the completion of subject enrollment for the HARMONi study, which evaluates the PD-1/VEGF bispecific antibody, Ivociclib (also known as AK112). The international Phase III clinical study is led by Summit and investigates…
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Akeso Biopharma’s Ivonescimab Outshines Keytruda in NSCLC Trial, Raises FDA Concerns
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FiercePharma.com has reported on the reactions of multinational corporation executives to the recent news that Akeso Biopharma (HKG: 9926) and partner Summit Therapeutics’ ivonescimab, a PD-1/VEGF bispecific antibody (BsAb), has become the first molecule to outperform Merck Sharp & Dohme’s (MSD) leading PD-1 therapy Keytruda (pembrolizumab) in a head-to-head trial…
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Akeso Receives First $300M Installment from Summit for Bispecific Antibody Ivonescimab
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Akeso Inc. (HKG: 9926) has announced receiving the first installment of USD 300 million as part of an upfront fee paid by US-based Summit Therapeutics Inc. (NASDAQ: SMMT) under the firms’ December 2022 licensing deal for the bispecific antibody (BsAb) ivonescimab. The initial payment includes USD 274.9 million in cash…
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Akeso’s Ivonescimab Secures Record-Breaking Out-License Deal with Summit Therapeutics
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A new bar was set for the most valuable out-license deal struck by a China-based company, as Akeso Inc., (HKG: 9926) handed US firm Summit Therapeutics Inc., (NASDAQ: SMMT) exclusive development and commercialization rights to the bispecific antibody (BsAb) ivonescimab. The deal covers the territories of the United States, Canada,…
